50% of COCOBOD properties unregistered

Less than 50 percent of Ghana Cocoa Board’s properties nationwide are covered by proper land documentation, the director of Estates at COCOBOD Alex Asiedu has confirmed.

A 2013 Auditor-General report revealed that most of COCOBOD’s landed properties are not covered by title deeds.

“We have a big backlog regarding titles to our properties. At the same time, I want to assure that because of the importance we place on this subject we have done a lot of work to ensure title perfection is ongoing,” Alex Asiedu told the Public Accounts Committee (PAC) of parliament.

According to the audit report, management is advised to initiate action to secure title deeds for the Board’s properties in view of the importance and materiality of balances in the financial statements.

Mr. Asiedu explained before the PAC that the company has a total asset portfolio of 2,790 which includes warehouses, offices, residences, sheds and quarters.

“There are 2,369 sheds and quarters which constitute 85 percent of the portfolio. The remaining 421 comprising 15 percent are offices, residences, cocoa stations per warehouse complex in what we term shared properties. Most of our progress has to do with non-shared properties, because they fall on government properties and it is a bit easy to deal with title perfection.

COCOBOD’s problem, Mr. Asiedu, says has to do with the shared sheds and quarters which constitute the majority, and that: “Unfortunately, we are grappling with title perfection and we are finding it difficult to locate the land owners. Even though we conduct searches, we don’t come up with any information regarding who owns the land and be able to see who to deal with”.

His response followed a question by a member of the committee, Abena Osei Asare, who sought to find out the update of COCOBOD’s properties as far as title deeds are concerned.

Mr. Asiedu said that the key properties presently stand at 421, and they have been able to register 186.

“Between 2013 and December 2015 we acquired titles for 30 of our properties, and in the last quarter of 2016 we will add another 13 that are currently being processed at the Lands Commission.

“We have embarked on a programme to perfect titles for at least our very key properties. We are going through the process to ensure this is done. We have mobilised a lot of resources, and we have procured survey equipment to carry out survey work and prepare cadastral plans for our lands.”

A member of the committee, Abena Osei Asare, urged officials to expedite work on the registration

“You said the key properties number 421 and you have done 186. You haven’t even done 50 percent. I think you should up your game. It is not just about acquiring machines, because you have done less than 50 percent of what you are terming as your key properties for more than a year; so you need to do it as quickly as possible to prevent any loss of properties,” she said.